Conclusions

Family businesses are characterized by a series of specific features which constitute a competitive advantage in the context of luxury fashion, as they represent attitudes and values typical of family businesses. These specific features influence the tendency to innovate, which is the core topic of the book. Different family firm variables create heterogeneous types of family businesses, and impact on the innovation tendency. The innovation strategy of family firms in the luxury fashion business may focus on different elements, such as products and processes according to the framework distinction. Even if this distinction between products and processes is not always clear-cut, it has improved our analysis thanks to its practical implications for the innovation strategy.